Hennion & Walsh Asset Management Inc. Increases Stake in Iron Mountain Incorporated $IRM

Hennion & Walsh Asset Management Inc. raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 10.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,304 shares of the financial services provider’s stock after acquiring an additional 5,258 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Iron Mountain were worth $7,112,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Valeo Financial Advisors LLC purchased a new position in shares of Iron Mountain during the 2nd quarter valued at approximately $243,000. Gradient Investments LLC boosted its holdings in Iron Mountain by 12.0% during the second quarter. Gradient Investments LLC now owns 29,602 shares of the financial services provider’s stock worth $3,739,000 after buying an additional 3,163 shares in the last quarter. Elevation Wealth Partners LLC boosted its holdings in Iron Mountain by 444.2% during the second quarter. Elevation Wealth Partners LLC now owns 283 shares of the financial services provider’s stock worth $36,000 after buying an additional 231 shares in the last quarter. Czech National Bank grew its position in Iron Mountain by 5.1% during the second quarter. Czech National Bank now owns 84,687 shares of the financial services provider’s stock valued at $10,697,000 after buying an additional 4,118 shares during the period. Finally, PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in Iron Mountain by 12.2% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 68,465 shares of the financial services provider’s stock valued at $8,648,000 after buying an additional 7,438 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

NYSE:IRM opened at $121.26 on Friday. The stock has a market capitalization of $36.08 billion, a PE ratio of 86.62 and a beta of 1.20. Iron Mountain Incorporated has a fifty-two week low of $77.77 and a fifty-two week high of $134.68. The company has a fifty day moving average of $124.82 and a two-hundred day moving average of $114.87.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be given a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 15th. Iron Mountain’s dividend payout ratio is 246.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IRM. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday. Barclays raised their target price on Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Truist Financial set a $140.00 price target on Iron Mountain in a report on Friday, May 1st. Wall Street Zen downgraded Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus price target of $135.17.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 38,474 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $122.83, for a total value of $4,725,761.42. Following the transaction, the chief executive officer directly owned 38,474 shares of the company’s stock, valued at approximately $4,725,761.42. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter C. Rakowich sold 757 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $124.45, for a total transaction of $94,208.65. Following the completion of the sale, the director owned 1,135 shares of the company’s stock, valued at approximately $141,250.75. The trade was a 40.01% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 92,786 shares of company stock worth $11,633,760 in the last three months. 1.70% of the stock is owned by corporate insiders.

Iron Mountain Company Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.